Need Cash for Some Holiday Spending? Here’s Why Refinancing Might Be the Answer

According to ASIC (Australian Securities and Investments Commission), Aussies plan to spend $955 on average over the holiday season. The majority resort to their savings when it comes to paying for Christmas presents while others opt for credit cards, Christmas bonus, and loans.

We have discussed here before the reasons why you should refinance. Consumers are often advised to consider refinancing in order to obtain a better interest rate and payment term. Instead of throwing out the original mortgage and creating a new one, the current loan is initially paid off to give way to the second loan. However, in this context, you can opt to cash out the equity of your home loan. To know if you have enough equity, it’s advisable to consult with your local finance broker.

What is cash out?

To give you an idea, this is a term used by Australian lenders to describe when a borrower releases the equity from their home, commonly known as home equity loan. The loan amount is determined by the value of the property, and the value of the property is determined by an appraiser from the lending institution.

Okay, this might sound overwhelming for some but as your Finance broker, I could help you with the whole process. Here at Soul Finance Group, we could advise how much you can borrow and let you know the risks and the benefits as well.

Call me today on 0408 081 082 for a no-strings mortgage evaluation and see how much you could save by refinancing your home now– and get your loved ones’ Christmas present list checked off early this year to avoid hassle and stress.

Reference: https://www.moneysmart.gov.au/managing-your-money/budgeting/spending/australias-christmas-spending

Disclaimer:

Credit Representative (486927) is authorised under Australian Credit Licence 389328.

 This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.

The post Need Cash for Some Holiday Spending? Here’s Why Refinancing Might Be the Answer appeared first on Soul Finance Group.

You might be in the mood to declutter any unnecessary stuff in your home and while you’re at it, you might want to take a second look at your current home loan.

At the end of this video, answer these questions:

 Am I paying an unreasonably high interest rate?
 Am I paying outrageous fees?
 Am I frustrated by inadequate service?
 Does my loan give me the features I need?
 Am I paying for features I don’t use?
 Have my financial circumstances changed?

For a complementary assessment, call Kirsten on 0408 081 082.

(If you want a written version of this, check this article we published.)

The post How To Spring Clean your Home Loan (VIDEO) appeared first on Soul Finance Group.

2018 top trends in home interior

Home stylistic theme are anticipated to be bolder than years before—from clear gem tones, luxury velvet, and metal offset with natural accents present in the home interior game. If you are one of those people who finds remodeling therapeutic, or just really love revamping your home interior every now and then, we have sourced out the internet, browsed some of the top home interior blogs and listed down what might work for your home!

Regardless of whether you are building your first ever house, revamping a whole room, or simply looking to just make a couple of updates and redesigns all through your property, here’s a rundown of a few of the most sizzling 2018 home interior trends.

Wabi-sabi

Wabi-sabi is a Japanese trend which seems to be the major home interior buzz this 2018. It is all about finding beauty in imperfection. It involves grounding oneself by forming a deep connection to the earth and enjoying the simple pleasures of life. It values simplicity, uncluttered, underplayed, and modest surroundings. Authenticity is key to wabi-sabi philosophy: the presence of cracks and scratches in things are considered to be symbolic of the passing of time, weather, and loving use–and should be embraced. Another facet to wabi-sabi is the idea of the “obvious pretty” vs. “unique beauty.”

Rich Pigments

“Grey may still be the neutral of choice for many interiors, but colour is set to be bolder this year. We’re feeling braver with colour choices – on both walls and furniture pieces, as sofa colour choices of late have demonstrated. Moody interiors are more popular than ever, too, with brooding violet, navy and striking emerald green all key colours for 2018.” (from Ideal Home UK)

Circle Patterns

“Hard geometrics are going to be huge and circles are the new triangle. You can start small with accent pillows or dive in with graphic wallpaper.” (From House Beautiful) Plus, the circle being the symbol of infinity, it also suggests a myriad number of solutions for storing and decorating your home.

Statement Ceilings

For centuries, the statement ceiling was the ultimate sign of luxury (think Versailles). For 2018 top trends on home interior, you can adapt this very style. With the right paint, fabric, or decorative plaster, the ceiling can become a striking statement. Ceilings have a large effect on the overall ambience, outlook, and lighting of your home. Walls notably carry eye-level color and decorations, but ceilings set the tone and character of your property.

Spa-inspired Bathroom

There are different ways to escape the weekday stress. Some go for out of town trips on weekends, some sleep their way during rest days, and some others find way to relax and recharge at their own homes—inside the comfort of their bathrooms. This trend adapts the look of a spa, or a vacation spot which consequently allows peace and relaxation.

There you have it. Whether you’re looking to just make a few updates and upgrades to your home or thinking about remodeling an entire room or your whole house, 2018 is a very exciting year for home design. Here at Soul Finance Group, our goal is to offer financial guidance to homeowners wanting to improve their lives, such as renovating the look of their homes. If you’re looking to upgrade and improve your home in 2018 but needing help in finance, call Kirsten on 0408 081 082 for a complimentary consultation.

References:

www.housebeautiful.com/design-inspiration

www.elledecor.com/design-decorate/trends

www.idealhome.co.uk/news/home-decor-trends-2018

Disclaimer:

Credit Representative (486927) is authorised under Australian Credit Licence 389328.

This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.

The post 2018 Top Trends in Home Interior appeared first on Soul Finance Group.

Different ways to observe/celebrate Australia day

There had been ongoing debates on moving the date for Australia day claiming January 26 to be celebrating violence instead of celebrating Australia. However, for some, this date had been what’s embedded in the tradition and what truly matters is the essence of observing the day. Hence, (quick disclaimer) the usage of the words “observe” slash “celebrate” in the title of this article just to be considerate on both parties.

So whether you’re a “believer” of this date or not, this January 26, we’re usually spoilt for choice when deciding how to enjoy the day. From barbecue parties to community events, here’s a few ways that you can maximise the time off from your otherwise stressful life!

Organise an Aussie BBQ Party.

If you like it traditional and intimate, plan a pool party/bbq party at your place. A backyard bbq is a popular way to celebrate Australia Day. It highlights all of the iconic aspects of the Australian culture – the bbq, pavlova, and a healthy dose of backyard cricket. Plus, you get to observe the holiday with your friends!

 Experience outback Australia.

Get to know Australia through its natural beauty by heading into the bush and releasing your inner Alby Mangels. Invite your friends, set up a camp, (or go glamping!) and start a hike on a famous Australian trails. Connecting with the nature can be a beautiful reminder how amazing this country really is.

Discover how they do it elsewhere.

So your inner wanderlust is kicking in and you decided to spare some time to visit a place other than your city! You might want to explore any of the suggestions below: (from viator.com)

• Attend the official Australia day celebrations in Canberra, including an Australian flag raising ceremony, citizenship ceremonies, and a huge fireworks display.
• Watch the Australia Day Parade in Melbourne, and then dine aboard the Colonial Tramcar Restaurant.
• Join the crowds for the gigantic Australia Day Party in Sydney’s Darling Harbour. Afterwards, cool off with a swim at Bondi Beach.
• Tuck into Aussie treats like pavlova, chocolate tim tams, and meat pies at the Great Australian Bites festival on Brisbane’s Southbank.
• Check off some of Australia’s bucket list wonders—climbing the Sydney Harbour Bridge, snorkeling or scuba diving at the Great Barrier Reef, or driving along the famous Great Ocean Road.

Staycation!

If you wish to spend Australia day in the city instead, you can always book a hotel in the Perth CBD and

admire the Australia Day Skyworks in Perth from the water on a Swan River cruise. Take someone with you, your significant other or even your whole family to witness the show.

Regardless of the reasons why you’re observing slash celebrating Australia day, let’s encourage reflection and discussion of what it means to be Australian. Whether it be rediscovering the country or reconnecting with old friends, Australia day can be an opportunity for learning and rejuvenation.

As always, how ever you wish to spend Australia day and might be needing some help in finance, consult with me today to get to know your options!

Disclaimer:

Credit Representative (486927) is authorised under Australian Credit Licence 389328.

 This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.

The post Different Ways to Observe/Celebrate Australia Day appeared first on Soul Finance Group.

As we wrap another year, we look back at the most viewed and most read blog entries posted on our website. The list was based on audience engagement via social media shares and number of views and engagement accumulated from our ever-trusted Google Analytics. They’re arranged from the oldest to the most recent published. Some will make you think; others will bring back those dreams you have put off for so long. They may also serve as a reminder of the importance of being informed and having knowledge as empowerment.

It was quite a year.

10 – Top compact SUV’s under $30k

Compact SUV’s are said to dominate the vehicle segment as every major automaker now offers one, giving shoppers many choices. To keep you from doing the daunting task of checking websites and reviews online, we had listed the top 7 compact SUVs that will cost you just less than $30,000!

9 – Mother’s Day Gifts That Will Fit Every Budget

Instead of providing some random options, we had given you gift ideas at every price point. So, no matter how much your budget is, it can surely match what you can give mum to make her feel extra special on that day. We scavenged the internet for the most underrated presents perfect for our mums, and looked for the best gift that will effectively work for a specific price range—from zero budget to having it all the way!

8 – Nature Meets Style: Top Glamping Spots in Western Australia

Glamping (Glamour + Camping) marries the best of both worlds: the rustic beauty of nature, and the classic comforts of luxury. This entry is probably one of my favourites because it showed a new side of travelling—getting away with style! Plus it doesn’t have to be expensive as there are spots that cater to whatever budget you might have.

7 – Buying a Used Car: Things You Need to Know

The process of buying a used car can be overwhelming, much like buying any other property. So, to help you navigate the seemingly-complicated used car market, we had provided you tips before landing on that deal.

6 – 10 Personal Finance Hacks

As an experienced banker and a Finance Broker myself, I pretty much saw all the possible worst scenarios experienced by my clients in terms of managing their finance. In as much as I can, I share what I know to help them save and work on their personal finance by starting within themselves and/or within their homes. Hence, the birth of this blog entry…

5 – From Saving to Settlement: How to Buy Your First Home

Buying your first home proves to be a major financial decision so you need all the help that you can get. And not surprisingly, most frequently asked questions revolve around this process!

4 – How to Switch Lenders and Potentially Save on Your Budget

Are you one of those home loan owners who are playing safe by sticking to their lenders to avoid uncertainty and hassle? Well, in this post, we’ve listed down a guide on how to switch lenders which can potentially save you money on interest! (And apparently, people were INTERESTed!– see what I did there?)

3 – Easy-to-Understand Infographic on the Mortgage Process

Yes, this is also one of those most frequently asked questions—the mortgage process. We’ve created an infographic to answer all those queries. (If you have further questions, ask us today!) Click here for the infographic.

2- Tips to Haggle for a Better Deal

Haggling may seem like a huge effort for some and so it certainly is not for everyone. People tend to not haggle on big purchases, or on things like home loan, insurance, or credit cards. They may think it’s embarrassing, not worth their time, or maybe they don’t have an idea how to do it. So, we’ve written down some tips to sharpen those haggling skills you thought you never had!

1 – Christmas Gift Ideas for Every Member of The Family

And finally, for this season of gift-giving, it tends to be trickier when it comes to picking presents for each member in the family. It’s always a smart move to have a list of ideas of gifts to give because it tends to get stressful once you’re inside the store and you’re clueless what to purchase! Luckily, Soul Finance got you covered with some gift ideas!

There you have it– our most-read articles for this year. Thank you for reading our blog posts and we hope you continue to support our entries in 2018! Wishing you and your family a blessed and Merry Christmas!

Disclaimer:

Credit Representative (486927) is authorised under Australian Credit Licence 389328.

 This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.

The post The Ten Most-Read Soul Finance Group Blog Posts of 2017 appeared first on Soul Finance Group.

How to get a car finance without a job

If you are unemployed and wish to secure a finance, you may wonder whether there would be any lender who will consider you for a loan. Compared to the home loan application, getting a car finance is relatively an easy process. The loan is usually for rather small amounts and repaid over just a few years. However, it becomes a different story if you add “unemployment” as a factor.

Lenders are assumed not to offer car loans if the principal applicant doesn’t have a job. This is fairly understandable because they will need to have an assurance that you can indeed repay the mortgage.

Good thing there are available options if you are in this kind of situation.

Here’s a guide on how to get a car finance even if you don’t have a job.

Provide other sources of income or fund.

Lenders look at your job for proof that you have the ability to pay back the loan. However, they also take into consideration other sources of income when deciding whether or not to approve a car finance application. If you have income from other sources, such as disability or child support, you may be able to use a certain percentage of these as income to repay your car loan. Moreover, if you were able to secure significant assets save in the bank or in investment accounts, lenders may be willing to consider that as security against your loan.

Save up for a deposit.

To get a loan if you don’t have a job, you are going to need to save up a much larger amount for deposit than if you were employed. Most lenders require a minimum downpayment of at least 30% of the purchase price or even higher.

 Improve your credit rating.

Your credit history greatly affects your car finance application. If you’ve had financial trouble in the past, it is important to make sure those problems are fixed and your profile looks spotless before seeking to obtain a car finance, especially if you are unemployed.

 Find yourself a co-signer.

If all else fails, look for a co-signer. Ideally, it can be a family or a close friend since their role is to sign with you on the loan, and act as a financial guarantor to the lender in case you fail to settle your payments. This means that they are also financially responsible for your car finance, and your failure to pay can negatively affect their credit score.

Securing a car finance without a job can be a tedious and tricky process, but achievable. You can also seek the help of your local finance broker to help you look for lenders who accept applicants with this kind of situation.

By being informed and taking the time to research, you will be able to drive your dream car no matter your financial circumstance is, and yes, even without a job.

Disclaimer:

This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product.

Corporate Credit Representative (486927) is authorised under Australian Credit Licence 389328.

The post How to Get a Car Finance Without a Job appeared first on Soul Finance Group.

3 financial advice myths, debunked

We are living in a generation where people, instead of seeking professional help, prefer to do things by themselves. From renovating their own room to giving a diagnosis out of their cough or joint pain, they’ve pretty much grown accustomed to figuring things out on their own.

And besides, when in doubt, google it, right?

Wrong.

Not everything can be taken from a certain website especially when it comes to something as important as your finances. When your money and future are at stake, there’s nothing wrong with asking for a little help.

According to ASIC, 20% to 40% of the Australian adult population use or have used a financial adviser. This means that 60% to 80% of adult Australians have never used a financial adviser. (ASIC Report 224, Access to financial advice in Australia)* Some people reckon that once they have settled a home loan on their own that they are qualified to be their own adviser. You may fix your bed to make your room bigger or give yourself a home remedy for that cough, but you don’t exactly have the expertise to professionally monitor your loan and/or finances. You need someone who is skilled and knowledgeable to help achieve your financial goals. It is your money that’s at stake so seeking professional help is just as logical.

However, even in that consideration, a lot of people are still not ready and not willing to get financial guidance. This could be because of some myths and misconceptions about using a Finance or mortgage professional.

As a professional Finance Broker, I am debunking 3 financial advice myths in the hopes of breaking your intimidation of seeking financial advice.

 “Financial advice is only for rich people.”

Actually, financial advice is for anyone who wish to organise their finances, set financial goals, and create a plan to reach those goals. Just because you think you don’t have enough savings that disqualifies you from seeking financial help. Regardless of your net worth or income, as long as you have a set financial goal, finance brokers like myself, can certainly help you. I offer complementary assessment to find the right loan for your needs. Some people think that a good financial advice would cost more than they could afford.  Financial advice absolutely doesn’t discriminate. It is not limited to how much money you have in the bank.

“Financial advise is too generic. It won’t necessarily work for me.”

Financial professionals are stereotyped of wanting to just sell their services and hit their sales target. What people need to know is that we aim to help as many people as we can. Personally, I believe that everybody should be given a chance. It doesn’t matter what walk of life they’re from. Regardless of their background, everybody deserves someone to be on their side, and if I can be that person to help them map out their financial plan, I’m very much willing to do so. I don’t judge, based on ‘how hard’ the loan application is, or ‘how unfeasible’ it can be. Whenever I set a meeting with an individual, I treat them as my only client, I listen to them. Who knows what they have been through. At the very least, they deserve someone to listen to them. I customise a financial plan that will suit their financial capability. There is no generic advise. Everything depends on the financial situation of the client. In some circumstances, I might not be able to help them immediately, but talking through their financial situation may be what they need at that time to put their goals in place.

“I can look after my own finances. I don’t really need a professional.”

Yes, you can look after your own finances instead of taking charge of it. Ultimately, that’s what financial advice is all about: taking charge of your financial life. Finances, of course, aren’t all there is to life. But it’s a vital factor in any other household. Finance brokers like myself help you from preparing all the documents needed, to the approval of your loan, until the end of the life of your mortgage. I can help you monitor your loan and finances and see if there is a better deal. You may have a hard time figuring this out if you are only working on your own. Finance brokers help you find the right loan that suits your financial capability. There’s so much competition and it can be confusing so you need an expert to help you navigate through it all.

Reference:

* ASIC (2010a) Australian Securities and Investments Commission, Access to financial advice in Australia, Report 224, Australian Securities and Investments Commission, Sydney

Available at: http://download.asic.gov.au/media/1343546/rep224.pdf

Disclaimer:

Credit Representative (486927) is authorised under Australian Credit Licence 389328.

 This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.

The post 3 Financial Advice Myths– Debunked appeared first on Soul Finance Group.

Debt consolidation allows you to combine all your debts into one.

Debt consolidation basically allows you to combine all of your debts into one. It’s not rocket science! To put it simply, you and your finance broker can put all of your debts together to come up with a single loan, a single interest rate, a single monthly mortgage payment. This enables you to minimise your monthly expenses and make your credit more manageable.

So, what’s the catch?

It might sound too good to be true because it basically eases you off the hassle. “Oh, for sure the payment will be much higher”—Not. As a finance broker, I advise my clients to consolidate their debts especially when all the debts tend to get out of hand. Depending on the kind of current loans you have, debt consolidation can help you reduce your interest and fees. Yes, it’s hard to get out of debt considering the refinancing costs and early payout fees for these existing loans. However, I analyse my clients’ current financial situation first before suggesting consolidating their debts. So yes, it might not be for everyone so it’s better to consult to your finance broker first. You might end up spending more so it’s better to have a financial consultation.

Debt consolidation is for you if:

• you have a hard time paying your monthly payments on time due to having too many commitments
• you have equity in your home
• you have a bad credit and a large amount of debt

There are actually lenders who specialise in these kinds of circumstances. While these are just some of the instances, it will always depend on the current financial situation of the client. I’m not going to bore you with any more of the jargons and technicalities. I have an idea! What if you shoot me a message via email or Facebook and that way, I can address your questions properly.

If you think about it, debt consolidation can be a good financial step, especially for people who have multiple loans and are having a difficult time keeping up with the payments. You just need to find a good balance on where can you save more.

Disclaimer: Your full financial needs and requirements need to be assessed prior to any offer or acceptance of a loan product.

Corporate Credit Representative (486927) is authorised under Australian Credit Licence 389328.

The post Why You Should Consolidate All Your Debts appeared first on Soul Finance Group.

5 smart renovation tips you need to know

Upgrading your home proves to be one of the most profitable decisions you can make because it adds value to it. This is possible by making it more aesthetically appealing, upgrading fixtures, adding a new coat of paint, replacing any old or worn flooring, and making other design changes.

Renovation is also a long term investment because all the decisions – from planning to design execution, will have important consequences along the way. Quick tip: try not to change your mind too much. Even though this can’t be avoided, you have to know that every time you change your mind, it could result into a minor or major change which calls for added costs.

Listed below are 5 smart tips to nail that home renovation:

1. Plan ahead.

Before taking the first step to renovating your home, set your goals first. Determine what you wish to achieve at the end of the project. Do you need more light? More space? Better interior? You can create a timeline which you can review every other day and which will help you stay on track. Know what home renovations you want ahead of time.  Otherwise, you might find yourself being steered toward spending a lot more money than you ever intended.

2. Know your budget.

Without a budget, renovation won’t be possible. Hence, it is important to make a list of all the things you need and research on their market prices to save time and money. It’s also a smart idea to have a buffer in your budget and it could be at least 10% of the total budget. Setting a budget will keep you from overspending.

3. Find the help of the experts.

Although you can plan the renovation on your own, it’s always a wise idea to seek the help of a professional. It saves you money in the long run and you know where you stand. Builders, contractors, and/or interior designers have access to suppliers and they can help you to get a better deal. Moreover, since this is their area of expertise, you are assured that you get the value of your money. Got problem in finance? We can help you secure finance for your dream renovation. Consult a Soul Finance Group broker now.

4. Think of the design thoroughly.

Don’t work without a design. Revision after execution hurts your budget. Since you have employed a professional with you, his/her keen understanding of your project will aid you in achieving this wisely.

5. Manage the renovation.

One of the best ways to achieve your renovation project is to communicative effectively. Relay your insights to your contractors, builders, and designers. Prepare your timeline to stay on track. As much as possible, stay hands on so you’ll be able to monitor the progress of the project.

Disclaimer: Your full financial needs and requirements need to be assessed prior to any offer or acceptance of a loan product.

 Corporate Credit Representative (486927) is authorised under Australian Credit Licence 389328.

The post 5 Smart Renovation Tips You Need to Know appeared first on Soul Finance Group.

In just less than 30 seconds, find out whether you should go for a fixed rate or variable rate.

The post “Should you go fixed or variable?” appeared first on Soul Finance Group.